The XRP can experience a peak in adoption if the wave penetrates successfully into the Chinese market

January 20, 2019 Coin Payment

[ad_2][ad_1]
ripple xrp price analysis
Over the years, Ripple has expanded its network in the FinTech sector on a global scale. Little by little, the company is creating a global presence with eyes set on the Chinese market through its research partnership with Tsinghua University. THUIFR is a leading academic institution dedicated to the exchange of policy advice, research, innovative incubation and cooperation in FinTech.

Ripple & # 39; s Partnership with The Institute Of FinTech

One of the projects that Ripple and THUIFR are working on will be the launch of a blockchain technology research program for Chinese graduate students. The main areas that will be covered by this program are the development of blockchain technology and international regulatory policies. This will be one of Ripple Labs' many projects to establish relationships and communications with the world's leading universities.

Since China has always had a rigid position on blockchain technology, the analysis of blockchain policies and regulations within the region is of utmost importance. Even with strict regulations, the blockchain community in China has joined the blockchain revolution. Therefore, the development of the BRSP will encourage the promotion of blockchain technology in China. Ivy Gao, director of international cooperation and development of THUIFR, said:

"I think this program will promote future research on blockchain technology and career development in this field."
Eric Van Miltenburg, senior vice president of global operations at Ripple, said the THUIFR project will introduce a new generation of Chinese into the blockchain space and this is something that Ripple is not looking forward to. In his words:

"The goal of the program is to give Chinese students the opportunity to learn about blockchain research, it is in line with our global university blockchain research initiative." We at Ripple are happy to support this venture as we await launch ".

While many members of the blockchain community were enthusiastic about the news, others did not. A reditor with the username XRPingster said:

"In China, I do not think anything can happen without government control.The Chinese government has its fingerprints on everything that happens in the country.I do not think this is good for Ripple.China does not grant access. except when it has something to do with intellectual property.

Adopting Ripple technology in China Boost XRP?

As a trader who thinks more about profit than technological advances, it is natural for you to wonder how this entry into the Chinese market will affect the price of the XRP token. Well, the truth is that a promotion of Ripple technology does not automatically translate into a widespread adoption of XRP. This is because many of the products promoted by Ripple Labs do not depend on the XRP token. Cross-border payment solutions provided by the company have little to do with XRP. While xRapid uses XRP tokens for commissions, xCurrent does not require XRP at all. This does not mean that entering the Chinese market will not have an impact on XRP. It will help XRP to get some visibility but it will not be too significant.
Price XRP (XRP) today – XRP / USD

It is important to note, however, that the Chinese government's rigid position on Bitcoin and cryptocurrency as a whole will make it rather difficult for Ripple Labs to penetrate the Chinese market to talk less about promoting a peak in the adoption of XRP.

Do you think that penetration in the Chinese market will lead to a push in the adoption of XRP? Share your thoughts.

[ad_2]Source link

Tags

Designed by Tricksfast Solutions
© Copyright 2024, All Rights Reserved